This is why you never hear the Left rail against “Evil Corporations” anymore.
If you can’t beat ‘em, join ‘em!
Fasicsm is an authoritarian form of crony capitalism. Businesses are allowed to exist so long as (1) they fully supprt to party 100% and (2) they take orders and do as they are told in every way. Then you throw in the usual communist trappings of a small body of elites who rule with ruthless absolute authority: fancy parades, state run propaganda media, total censorship, political prisons, firing squads, the usual stuff. That crony capitalism aspect of it is what separates if from straight up communism.
China is therefore now fascist, no longer communist. And the USA is headed there because one of their parties is outright fascist and they are getting bolder in openly proclaiming it.